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Ex-husband accused of excessive spending before settlement

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The ex-wife of a millionaire property magnate has been successful in obtaining a temporary High Court injunction in order to stop her former husband from spending their money before a court rules on how the marital assets will be divided. Her request was granted in December, but spouses in Manchester facing a similar situation may be interested to hear that she is back in High Court to ask that the injunction be made permanent.

The couple had built a property portfolio worth £18 million in the East Midlands and were living a sumptuous life before their divorce in Israel in 2012. Included in their fortune were luxury cars and a five-bedroom family home outside of Nottingham valued at £2 million. They reportedly signed an agreement to split their assets equally but the courts have yet to rule on how their estate will be divided. She is seeking a permanent injunction from the High Court after accusing her ex-partner of spending the company assets, transferring money into risky investments and not informing her of transactions worth millions. 

Speaking through his legal counsel, he has defended his actions and said that his aim has been to keep their business solvent. While he admitted that he had spent £70,000 to buy a Bentley, he pointed out that she had spent even more than that on cars since their divorce. He also said that the properties that he had sold were assets of the company that they both owned and that he was in no way trying to affect the upcoming divorce settlement.

A solicitor experienced in divorce cases that include the division of extensive personal and business assets may provide legal assistance to protect the interests of a client. The legal advice may include recommendations regarding placing a limit on joint accounts or arranging for restrictions on assets that are not held in joint names.